Synergy Capital AM: U.S Market on Friday – Major stocks fell again

Coronavirus (Covid19) bear market season is still mongering fear globally rummaging investors to look for safer way to save their investment. The pandemic and loss of millions of jobs worldwide pressured market to keep on dumping.

The three major stocks in the U.S. market rapidly loss gains yet again on the closing of Friday’s trading day. The Dow slid 360.91 points, or 1.69%, to close at 21,052.53. The S&P 500 closed 1.51% lower at 2,488.65. The Nasdaq Composite fell 1.53% to 7,373.08. The Dow Jones Industrial just lost 2.7% this week, S&P 500 fell 2.1% while Nasdaq ended the week down 1.7%.

The drop comes up after news about millions of jobs loss in U.S. jump up to nearly 10 million just this March 2020. According to analysts things will be rougher on the coming so monitoring stocks every business day is advice.

As for bonds, the yield on 10-year Treasuries raised one basis point to 0.61% this Friday. For currencies, U.S. dollar is up by almost 1% while Japanese Yen fell by 0.5% to 108.41 per dollar.

For commodities, oil price gained for two straight days now. Western Texas Intermediate (WTI) Crude is up by 11.93% or $28.34 per barrel while Brent Crude rose by 13.93% or $34.11 per barrel. Mars US also rose by 13.23% to $24.14 per barrel. It has been a great day for oil market and this is due to reports that large producers are ready for a possible cut on production output.

On the same day, Gold is down by -0.95% to $1,618.13 per ounce while silver fell by -0.23% to $14.40 per ounce.
The stock market is expected to crash deeper not until the pandemic is deal with all over the world. But what makes people scared right now is that after this crisis, everything will never be the same again, that everything will not come to normal. One thing for sure is, after this pandemic, people will be more prepared. They will know now that savings will help everyone to go through emergency cases like this one.

Get hold of the latest news in the Stock Market by visiting us at Synergy Capital Asset Management Limited , so you may see what we can offer for your financial needs.
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